Virtually Debt Free. Thanks to SH

SH writes off £4 million

Thank you Simon and Jane,

Actually, he's cancelled the loan. Not written it off. Bit of a difference.

Same thing isn't it? just debt converted into shares, like before?

Top perfomance Hallett....

Now that he owns nearly all the club it makes sense I mean who would lend themselves money? Makes me larf that we've been told that Brent made the club sustainable yet the truth is we'd be down the shitter again if not for Hallett.

Done more in a year then Brent ever did in 7.

He does walk the walk.

One of the the BMs here said to me Hallett had now funded £10.5 million for this redevelopment overall
Lot of wonga for sure and sounds like a lot of over run on costs or maybe upgrades even

This type of transaction most commonly occurs when a company is undergoing some financial difficulties so it isn't easily able to make the payments on its debt obligation. The financial difficulties are anticipated to be long term so an immediate fix is necessary to restore financial equilibrium. A company might also want to improve its cash flow by converting debt to equity.

Simon and Jane we thank you

PatDunne wrote:

This type of transaction most commonly occurs when a company is undergoing some financial difficulties so it isn't easily able to make the payments on its debt obligation. The financial difficulties are anticipated to be long term so an immediate fix is necessary to restore financial equilibrium. A company might also want to improve its cash flow by converting debt to equity.

This is above my pay grade so to speak.

Simple question , is this a good or a bad thing ?

Graham Clark posted this on pasoti-

Four years ago in October 2015 the nominal shareholding value of the Club was £1.2m. Simon Hallett first invested £500,000 in April 2016 taking the nominal value to £1.7m.

We are now at just over £16m nominal value with Simon and Jane Hallett's share being just over £15.5m. That includes the purchase of James Brent's shareholding to secure majority control and now his 97% holding.

The cancellation of the loan means a saving annually of around £225,000 in loan and interest repayments. That will help cash flow and the bottom line.

That is the size of Simon and Jane's investment in the Club. Never in all the years of supporting the Club did I expect anyone to invest at this scale in the Club and in this manner. It is an understatement to say we, as supporters, are eternally grateful in these difficult times of financing football, particularly in the lower Leagues.

Thank you, so much.

It's never a bad thing. but it's not quite the same as gifting the club 'free' money. It means a more positive day to day cash flow for the club which is great news.

PatDunne wrote:

It's never a bad thing. but it's not quite the same as gifting the club 'free' money. It means a more positive day to day cash flow for the club which is great news.

Cheers that makes it clearer

Well we've got the Argyle fan sugar daddy we wanted. On a very small scale compared to the big clubs but nonetheless this is fantastic news.

Argyle really is in the right hands again at long last.

The real saviour

I see that absolute weapon HC Green on PASOTI is saying that Hallett has done no better then his lord and master Bent.

We could be the most virtually debt free club in non league football.

Yea Man wrote:

Well we've got the Argyle fan sugar daddy we wanted.  On a very small scale compared to the big clubs but nonetheless this is fantastic news.
.

You're actually partially wrong Yea Man. He is a big sugar daddy on a big scale with plenty more to come IF he wants to. This bloke is minted on a colossal scale as I have tactfully pointed out for the last 2 years.

The days of that odious speccy deceitful shyster are a distant memory

Punchdrunk wrote:

I see that absolute weapon HC Green on PASOTI is saying that Hallett has done no better then his lord and master Bent.

He's the geezer who is related to Ray Toms of the defunct Goldbergs. Either cousin or brother forget which

might have guessed

Somebody actually willing to splash their own cash on Argyle at last. Not someone else’s or getting a foothold in the club then sitting tight while the value of their shares rise but not investing anything in the club or basics such as ground maintenance.

This is how you do the whole ‘I’m the chairman and a lifelong fan’ thing. *cough* Stapleton *cough*.

So we actually have a owner with real assets financially safeguarding the club - how refreshing.

akagreengull wrote:

So we actually have a owner with real assets financially  safeguarding the club  - how refreshing.

How do we know he is spending his own money?